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Partners in a business enter into a buy-sell agreement to purchase life insurance, which states that should one of them die prematurely, the other would be financially able to buy the interest of the deceased partner. What type of insurance policy may be used to fund this agreement? 1. Term insurance only 2. Permanent insurance only 3. Universal life insurance only 4. Any form of life insurance

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Partners in a business enter into a buy-sell agreement to purchase life insurance, which states that should one of them die prematurely, the other would be financially able to buy the interest of the deceased partner. What type of insurance policy may be used to fund this agreement?
1. Term insurance only
2. Permanent insurance only
3. Universal life insurance only
4. Any form of life insurance

 
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